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Excerpt from our One Page Annotated Wall Street Journal Summary (get it e-mailed to you every morning by signing up here):

Kraft to Bolster European Lineup In Deal for Part of United Biscuits

  • Summary: According to a WSJ source, Kraft will acquire a part of the UK's United Biscuits, giving Kraft control over brands such as Ritz crackers and other popular food products in Europe. The move would be an extension of new CEO Irene Rosenfeld's strategy of compensating for its lack of internal new brand production.
  • Comment on related stocks/ETFs: About 88% of Kraft (KFT) stock is owned by Altria Group (MO) -- following the recent good news from the courtroom for Altria, a spinoff of Kraft seems more likely.
Source: Kraft to Buy Stake in UK's United Biscuits (KFT, MO)